KPN

“Dime cuándo, cuándo, cuándo” (Tell me when, when, when) goes the song.

Well, Carlos Slim’s América Móvil has inched a little bit closer to nailing down timing of its planned offer for Dutch phone firm KPN. Continue reading »

Well, that didn’t take long.

Just 11 days after América Móvil (AMX) ended a shareholder agreement with KPN that capped its stake in the Dutch phone carrier at about 30 per cent, the Mexican group controlled by billionaire Carlos Slim made its move.

With a great thud of cash hitting the table, Slim’s AMX on Friday announced a €7.2bn bid for the 70 per cent of KPN it does not already own. Continue reading »

A Mexican standoff? América Móvil (AMX), the Latin American telecoms giant, has ditched a shareholder pact with KPN. What happens next?

As the FT has reported, the ending of an uneasy truce between the shareholders – which had limited AMX’s stake in the Dutch telecoms group – opens the door to several possibilities, especially since AMX’s boss, Carlos Slim, is believed to be none too keen on the price at which KPN was planning to sell its German business. Continue reading »

Carlos Slim’s almost €5bn investment in European telecoms is still underwater and, unfortunately for the Mexican tycoon, still seems to be sinking fast.

Indeed, this week’s €8.1bn cash and share offer by Telefónica to buy KPN’s German mobile unit arguably only dunks again the world’s sometimes-richest-man. Continue reading »

So will Carlos Slim write off the €1.7bn that he has spent by taking a 28 per cent stake last year in KPN, the now troubled Dutch telecoms group?

KPN’s decision to stage a €4bn rights issue puts Slim’s América Móvil in a quandary. Should it put up more money to maintain its percentage stake or stay put and swallow its pride as well as its losses? Continue reading »

Most other investors might be selling assets and hoarding cash, but not Carlos Slim. The Mexican telecoms tycoon and world’s richest man is on a shopping spree. This week alone he has bought a 21 per cent stake in Telekom Austria, while simultaneously pursuing a bigger stake in Dutch telecoms operator KPN. He’s also emerged as the surprise acquirer of an 8.4 per cent stake in Argentine oil company YPF. Using market prices, those two deals alone are worth around $1.3bn. What’s going on? Continue reading »

The announcement this week by América Móvil that it intends to increase its share in Dutch telecoms outfit KPN to up to 28 per cent from the 4.8 per cent it has at present has all the signs of a text-book Carlos Slim move.

For years now, the Mexican telecoms tycoon and the world’s richest man, according to Forbes, has been trying to get into the European market. In 2007, his plans to buy, together with AT&T, a stake in a company that controlled Telecom Italia were foiled by local political resistance to the entry of a non-domestic player. Continue reading »